Question 585645
A=P(1+r/12)^t.
 A= amount of money total i paid for the car,
 P= amount of loan i needed)
 r= interest rate and 
 t= length of loan(in months)
:
For my particular case, I have: A= 26641.12, P= 21000, r= .0349 (3.49%), and t= 48.
:
you give t=48, but isn't that what we are trying to find here?
And 1.25 * 21000 = 26250
:
21000[1+(.0349/12))^t] = 26250
:
{{{1.0029083^t}}} = {{{26250/21000}}}
Using common logs
{{{log((1.0029083^t))}}} = {{{log((26250/21000))}}}
The log equiv of exponents
{{{t*log((1.0029083))}}} = {{{log((26250/21000))}}}
find the logs
t * .00126 = .09691
t = {{{.09691/.00126}}}
t = 76.9, pay it off in 76 months to pay less that $26250
:
:
Check this, enter in you calc: 21000(1+(.0349/12))^76 results: $26,186.26 is what you'll pay in 76 months